Chart Of The Day: StepStone - Diversified Asset Management -

Chart Of The Day: StepStone – Diversified Asset Management

Jul 18, 2024Jeremy ParkinsonFinance, No picture0

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The Chart of the Day belongs to the asset management company StepStone Group (STEP). I found the stock by using Barchart’s powerful screening functions to find stocks with the highest technical buy signals, highest Weighted Alpha, superior current momentum, and having a Trend Seeker buy signal then used the Flipchart feature to review the charts for consistent price appreciation. Since the Trend Seeker signaled a buy on 3/28 the stock gained 37.21%.STEP Price vs Daily Moving AveragesStepStone Group LP. is an investment firm specializing in direct, fund of funds, secondary direct, and secondary indirect investments. For direct investment, it seeks to invest in venture debt, incubation, mezzanine, distressed/vulture, seed/startup, early venture, mid venture, late venture, emerging growth, later stage, turnaround, growth capital, industry consolidation, recapitalization, private equity and buyout investments in mature and middle market companies. It prefers to invest in natural resources, technology, healthcare, services, materials, manufacturing, consumer durables, apparel, hotels, restaurants and leisure, media, retailing, consumer staples, financials, telecommunication services, energy, infrastructure, real estate, and real asset. The firm invests globally with a focus on United States, North America, Europe, Asia, Latin America, Middle East, Africa, Brazil, Mexico, Argentina, Colombia, New Zealand, China, India, Korea, Japan, Taiwan, and Australia region. The firm invests between 5% and 40% in emerging markets. For fund of fund investment, it seeks to invest in private equity funds, venture capital funds, Special situation funds, Real estate funds, Infrastructure funds, mezzanine funds, and turnaround/distressed funds. It considers investments in both domestic and international funds. It also seeks to make co-investments and follow-on investments and considers partial interests in funds. StepStone Group LP. was founded in 2007 and is based in LA Jolla, California with additional offices across North America, South America, Europe, Australia, Asia, New York, New York.Barchart’s Opinion Trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 20 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report.
Barchart Technical Indicators:

100% technical buy signals

89.23+ Weighted Alpha

Gained 84.02% in the last year

Trend Seeker buy signal

Above its 20, 50 and 100 day moving averages

11 new highs and up 13.86% in the last month

Relative Strength Index 72.51%

Technical support level at $47.51

Recently traded at $49.04 with 50 day moving average of $42.76

Fundamental Factors:

Market Cap $5.34 billion

P/E 38.52

Dividend yield 2.05%

Revenue is expected to grow 41.30% this year and another 18.00% next year

Earnings are estimated to increase 40.50% this year, an additional 25.90% next year, and continue to compound at an annual rate of 16.30% for the next 5 years

Analysts and Investor Sentiment — I don’t buy stocks because everyone else is buying but I do realize that if major firms and investors are dumping a stock it’s hard to make money swimming against the tide:

Wall Street analyst gave 2 strong buy, 1 buy and 4 hold opinions on the stock

Analysts’ price targets are between $41 and $58 with a consensus of $48

Value Line doesn’t covers the stock

CFRAs MarketScope rates it a hold

Morningstar rates it an average 3 star with a fair value of $47.18

Only 973 investors monitor the stock on Seeking Alpha

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